Though filling out a loan application may appear to be a daunting endeavor, if you do your homework, you will be able to breeze through this procedure with ease. The home loan documents required with the loan application are primarily determined by the applicant’s profession/occupation. Let us begin with the documents that are shared by all:

PAN

Identity Verification

• Driver’s License
• Aadhar Card
• Passport Address Proof
• An Identity Proof with a Permanent Address
• Voter’s ID Card

Telephone Receipt for Electricity Bill

• Water Tax
• Property Tax
• Post-paid Mobile Phone Bill

Documents Concerning Property

• Stamped sale agreement/Sales Deed or letter of Allotment
• NOC from the builder/housing society
• Certificate of Possession Estimated Construction Costs

In the event of a newly built apartment, a bank account statement is required, as well as an occupancy certificate

Passport-sized photographs

 Home loan Documents Required for Salaried and Self-Employed Applicants

1. A home loan application form that has been completed and signed.
2. Identification Documentation: (Any one of the below)

• PAN Card,
• Passport,
• Aadhaar Card,
• Voter ID Card
• Driver’s License

3. Age Verification: (Any one of the below)

• Aadhaar Card,
• PAN Card,
• Passport,
• Birth Certificate,
• 10th Class Marksheet,
• Bank Passbook,
• Driving Licenses are all required documents.

4. Documentation of residency: (Any one of the below)

• Bank Passbook
• Voter’s ID
• Ration Card
• Passport
• Utility Bills (Telephone Bill, Electricity Bill, Water Bill, Gas Bill)
• LIC Policy Receipt
• Letter from a reputable government agency confirming the customer’s address

5. Income Documentation

• Form 16 (Salaried)
• Payslips from the last two months,
• Increment letter
• IT returns for the last three years (increment or promotion letter)

Aside from proof of income, the salaried individual would be required to provide any investment proofs (such as fixed deposits, shares, etc.) as well as passport-size photographs.

 For Self Employed:

• Income Tax Returns (ITR) over the last three years for self-employed individuals
• The Company/Balance Firm’s Sheet and Profit & Loss Account Statement (duly attested by a C.A.)
• Details on a Company’s License (or any other equivalent document)
• Professional Practice Licence (For Doctors, Consultants, etc.)
• Certificate of Registration of Establishment (For Shops, Factories & Other Establishments)
• Proof of Business Location

6. List of Property Documents for Home Loan:

• Payments paid to the developer must be accompanied by receipts (in case of a new house)
• Buyer Agreement / Allotment Letter
• Title Deeds, as well as the chain of preceding property documents (in case of house resale)
• a copy of the sale contract (if already executed)
• Receipt of the house seller’s initial payment
• The plot’s title deeds (in case of house construction)
• An architect’s or civil engineer’s thorough estimate of house construction.
• A copy of the plans that have been approved by the local authorities
• Evidence that there are no encumbrances on the property

7. Additional Documents:

• All candidates and co-applicants must submit passport-sized pictures (to be affixed on the application form and signed across)
• Evidence of one’s own contribution
• Bank statements over the last six months demonstrating repayment of outstanding debts (if any)
• Details on ongoing loans in the name of an individual or corporate entity (such as the outstanding amount, monthly installments, purpose, remaining loan length, and so on) (if any)
• A check for the processing fee in favor of the home loan provider

 For Salaried:

If the present job is less than a year old, an employment contract or appointment letter is required.

For Self-Employed

• Business Profile
• Latest Form 26 AS

In the case of a company, a list of Directors and Shareholders with their individual holdings is certified by a CA / CS.

In the event that the company entity is a partnership firm, a partnership deed is required.

The Company’s Memorandum and Articles of Association

 List of Home Loan Documents Required for NRIs/PIOs Applicants

KYC Documents:

• Passport with VISA stamps / PIO Card
• Proof of Address with a current foreign address

Proof of Income (For Salaried:):

Work permit

• Employment Contract / Appointment Letter / Offer Letter (Duly attested by employer/ consulate / foreign office / embassy if in another language)
• The work permit/identity card (documents in a language other than English must be translated into English and countersigned by the consulate)
• ‘Last three months’ For applicants working in the Middle East, wage certificates/slips (in English) detailing name, date of joining, designation, and salary details.
• Bank statements from the last six months that show salary credits Account for NRE / NRO (if any)
• Report from the Credit Bureau (in case available in the country where you are residing)
• a duly acknowledged copy of the previous year’s ITR (save for NRIs/PIOs residing in Middle Eastern countries and merchant navy employees)
• For applicants working in the merchant marine, a copy of their Continuous Discharge Certificate (CDC).
• Form P60/P45, as well as the most recent employment contract (for salaried)
• If you have a previous loan from another bank or lender, please provide a loan A/C statement for the last year.

 For Self Employed:

• Professional Practice License / Business License (for Doctors, Consultants, etc.)
• Certificate of Registration of Establishment (For Shops, Factories & Other Establishments)
• Proof of business address
• In the case of self-employed professionals/businessmen, proof of income is required.
• Balance sheets and profit and loss accounts for the previous three years audited or verified by a C.A.
• ITR for the last three years (save for NRI/PIOs residing in Middle Eastern countries)
• ‘Last six months’ Bank Statement of foreign accounts in the name of an individual and/or a company/unit

Property related documents

• Original title deeds tracing the property’s title
• Encumbrance Certificate Agreement for Sale/sale deed/detailed cost estimate from the Architect/Engineer for property to be purchased/built/extended/improved
• A copy of the approved construction/purchase/extension drawings
• Receipts for payments made for the purchase of the dwelling unit, ULC clearance/conversion order, and so on.
• Receipts for investing margin money through standard banking channels from NRE/NRO account(s) in India
• The most recent tax payment receipt
• Letter of allocation from the co-operative society/association of flat owners

Please keep in mind that all documents must be self-attested. Aside from the documents listed above, the lender may request more or less.